Impact of Comprehensive U.S. Privacy Laws on Cyber Insurance Webinar Recap
Impact of Comprehensive U.S. Privacy Laws on Cyber Insurance Webinar Recap
Impact of Comprehensive U.S. Privacy Laws on Cyber Insurance Webinar Recap
At the Federal level during 2022, over 100 pieces of privacy-related legislation was introduced by the 117th Congress. At the state level, 60 comprehensive consumer privacy bills across 29 states were considered in 2022, representing a 106% increase over 2021. As we head into 2023, five states will enact or update comprehensive privacy laws, bringing privacy requirements to a wide variety of businesses that were never under privacy regulations. While many of these laws are borrowing concepts from the California privacy laws, and specifically the updated California Privacy Rights Act (CPRA), each requires businesses to take proactive measures to address privacy and security within their operations.
Within this backdrop, a key question is how insurance is responding to these developments, and how businesses should understand their evolving privacy and security risks? This session will explore the implications of these new regulations, and new decisions on existing regulations, to parse the requirements on businesses, and discuss the way that insurance is evolving to meet these new business risks.
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